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Malaysia’s economic growth has been impressive in the current context of the turmoil in global markets, said MIDF Amanah Investment Bank Bhd Head of Research Zulkifli Hamzah.

He said although prices of commodities, such as oil, have tumbled, Malaysia has succeeded in generating growth, creating job opportunities and improving the standard of living.

“The devaluation of the Ringgit, although viewed negatively by the people, has benefited the export-oriented industries, especially the resource-based ones.

“The most important thing now is to retain our growth momentum. Despite the challenges Malaysia has been facing, its growth momentum last year was better than Singapore’s,” he told Bernama here, Tuesday.

Zulkifli was commenting on a Bloomberg report yesterday which forecast a Gross Domestic Product (GDP) growth of 4.5 per cent for Malaysia in 2016.

Malaysia’s GDP growth this year is expected to be the 13th highest in the world, and it has a 10 per cent chance of recession, according to Bloomberg.

Moody’s Investors Service, meanwhile, has affirmed the Government of Malaysia’s issuer and senior unsecured bond ratings at A3 and changed the outlook to stable from

The revision of the 2016 Budget to be carried out by the government to cushion the impact of plunging oil prices and various economic factors is hoped will not have drastic adverse effects on the people's lives.

Social activist Tan Sri Lee Lam Thye hoped that the government would come up with a strategy to amicably amend the allocation made during the tabling of the 2016 Budget last October by giving priority to the less-affordable group.

BEIJING : French luxury goods firm Louis Vuitton is seeking damages from three people convicted of offering counterfeit versions of its clothing, shoes and handbags on Alibaba Group Holding Ltd's popular Taobao shopping website, a Beijing court said.

A district court in Beijing accepted the lawsuit filed by Louis Vuitton, owned by LVMH, the world's biggest luxury group, last Monday, according to a statement on the court's website.

Chief Minister Tan Sri Adenan Satem said Sarawak will be developed 'the Sarawakian way' without interference from people or quarters from outside the state. Adenan also said he would not bow down to critics who opposed his way of steering the state to greater heights.

Speaking at the launch of this year's Sejiwa, Senada programme here today, Adenan said the fate of Sarawak lies in its own hands.

"Rest assured, the fate of our state is controlled by Sarawakians. Who knows Sarawak better than